October 06, 2017
WELLESLEY, Mass., Oct 06, 2017 – Driven by growth in developing nations but held back by maturity in the developed world, the global environmental remediation market is expected to see steady although modest growth through 2022, according to a report by BCC Research. The global market is forecast to reach $82.7 billion by 2022, with most growth coming from China and developing nations in the Asia-Pacific region.
In developed nations, market growth may come thanks to improvements in detection technologies, which can identify contaminants in sites which previously went unnoticed, according to the report Global Markets for Environmental Remediation Technologies. Furthermore, as human lifespans increase, the levels of acceptable contaminants in drinking water and groundwater may need to be reassessed. Historically, acceptable levels were set by how much a human could ingest over an average lifetime without elevated health risks. Due to longer lifespans, those responsible for remediating contaminated sites may potentially spend more money to meet new regulatory standards.
“Despite the progress that has been made in cleaning contaminated sites in these regions and countries, there remains significant work to be done,” said BCC Research analyst and report author Bryan Charles Boots. "When considering the emerging economies of the world, it is clear that there exist equally large—if not greater—future potential liabilities stemming from contaminated sites, as many of these sites have yet to be cleaned.”
Major players in the worldwide environmental remediation market include Angel Ambiental, Bachtech Environmental, Cetco, Entact, Fluor, McMillan-McGee, Newterra, Odebrecht Ambiental, Powercem Technologies, Regenesis, Terratherm, Tetra Tech and URS Corp.
Market Shows Signs Of Reaching Maturity
Although growth is expected worldwide over the next five years and beyond, the industry as a whole shows signs of having reached maturity. Exceptions can be found in certain regions—especially parts of Asia—where the market shows signs of being marked by high competition. Stricter environmental regulations in more developed nations means that new incidences of major environmental contamination are decreasing. Noteworthy, though, is while growth may be slowing, there is strong interest in the market, as demonstrated by the number of firms entering the market annually.
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Global Markets for Environmental Remediation Technologies( ENV006C )
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